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Old 08-25-2014 | 08:00 AM
  #7067  
NVUS
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Joined: Jul 2013
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Originally Posted by Firsttimeflyer
Just to settle the dispute. ASA purchased Expressjet for $6.75 a share for a total of $133 million.

"In August 2010, SkyWest Inc. announced that it had entered into a definitive merger agreement with ExpressJet Holdings, whereby SkyWest Inc.'s wholly owned subsidiary, Atlantic Southeast Airlines, would purchase ExpressJet for $6.75 per share. Atlantic Southeast Airlines and ExpressJet became the world's largest regional airline on November 12, 2010 once the purchase was final. The self-proclaimed "Super Regional" airline is based in Atlanta."


"This isn't the first time SkyWest has looked at ExpressJet. Back in 2008, SkyWest made an offer for the airline for $3.50 a share. That didn't go through, and today, SkyWest is paying $6.75 a share. Shareholders of ExpressJet should be very happy to have pulled that in. [Update: There was a reverse stock split late in 2008, so the original offer in 2008 would have brought in about $180 million while this will bring in $133 million. I still say the ExpressJet shareholders should be happy about this considering the continued losses at ExpressJet.]"

One more article in case there is any confusion: SkyWest to acquire ExpressJet in continued US regional consolidation | CAPA - Centre for Aviation

"Subsidiary Atlantic Southeast Airlines will acquire all of the outstanding shares of common stock of ExpressJet Holdings, Inc. for USD6.75 per share in cash, representing a net purchase price of approximately USD133 million after accounting for the shares already owned by Atlantic Southeast."
Continued losses, even before SkyWest bought them?!! That contradicts everything Nevets says. You can't post stuff that disproves Nevets, the universe will implode in on itself.